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Topic: My friend keeps getting 4% interest at poloniex day after day (Read 417 times)

copper member
Activity: 2996
Merit: 2374
Who is your friend and why is it important that he made 4%?  And yes, this
is in the wrong section.  Don't think it's a referral attempt, but this thread is
stupid as F.

4% isn't a great return, unless you mean 4% a day which is pretty good.
Means nothing to us tho.

He was saying 4% a day, which Polonex doesn't offer, so yes, this thread is stupid as F. Maybe he just means he trades and earns 4% on average? Idk. It's all nonsensical.
Interest rates were at 5% per day immidiately prior to the Aug 1 fork, which was the maximum their platform allows. Polonex was not giving lenders with active loans the BCH they were due, so few lenders were willing to lend on Polo. Lenders are able to offer loans for up to 60 days, although borrowers can repay early if they so choose.

Most of the loans were likely repaid shortly after the BCH fork, as interest rates fairly quickly fell to more normalized levels.

The bitfinex lending book had somewhat similar issues although for different reasons, however their maximum interest rate for loans to be automatically taken out is 0.75% per day (borrowers can pay higher rates, however they will need to manually take out these loans). I currently have BTC loans outstanding at bitfinex totaling about 10% of the loans I had outstanding at the time of the Aug 1 fork with interest rates of just over 0.6% per day. A good 30-40% of the loans I had outstanding as of the Aug 1 fork remained outstanding for at least a week or so, all at nearly the maximum 0.75% per day. It is nice to get the well above market interest rates, although it would be nice to be able to convert my BTC back into USD considering the massive increase in price since the fork.
newbie
Activity: 70
Merit: 0
Who is your friend and why is it important that he made 4%?  And yes, this
is in the wrong section.  Don't think it's a referral attempt, but this thread is
stupid as F.

4% isn't a great return, unless you mean 4% a day which is pretty good.
Means nothing to us tho.

He was saying 4% a day, which Polonex doesn't offer, so yes, this thread is stupid as F. Maybe he just means he trades and earns 4% on average? Idk. It's all nonsensical.
yes i cheked also and there is no 4%
legendary
Activity: 966
Merit: 1042
Who is your friend and why is it important that he made 4%?  And yes, this
is in the wrong section.  Don't think it's a referral attempt, but this thread is
stupid as F.

4% isn't a great return, unless you mean 4% a day which is pretty good.
Means nothing to us tho.

He was saying 4% a day, which Polonex doesn't offer, so yes, this thread is stupid as F. Maybe he just means he trades and earns 4% on average? Idk. It's all nonsensical.
sr. member
Activity: 1190
Merit: 306
Who is your friend and why is it important that he made 4%?  And yes, this
is in the wrong section.  Don't think it's a referral attempt, but this thread is
stupid as F.

4% isn't a great return, unless you mean 4% a day which is pretty good.
Means nothing to us tho.
hero member
Activity: 960
Merit: 514
Poloniex has like 1M users, don't expect every one of them to be expert traders. Some will forget about their positions, some accidently lock their accounts, others simple don't realise they can refinance their loans etc. I still have some high loans out. But I also have some crap ones out that are worth much less than the value of BCH. So it's all a game, the luck works both ways.

I am just wondering why it happens. It's well, very good of course

So the lender actually have the capability to refinance the loan right? And they have to do so manually and they forget.
full member
Activity: 183
Merit: 111
Poloniex has like 1M users, don't expect every one of them to be expert traders. Some will forget about their positions, some accidently lock their accounts, others simple don't realise they can refinance their loans etc. I still have some high loans out. But I also have some crap ones out that are worth much less than the value of BCH. So it's all a game, the luck works both ways.
legendary
Activity: 2674
Merit: 1226
Livecasino, 20% cashback, no fuss payouts.
Must be a desperate referral attempt. I just looked at Poloniex and there isn't even any loan offer for 0.5% per day. I have seen much higher, but usually this is just for small amounts, and anyway all the smallest offers fill that up.
hero member
Activity: 812
Merit: 501
What's the point of your post in the currency exchange?
hero member
Activity: 960
Merit: 514
He lend money with 4% interest before the fork for 30 days expecting the loan to be quickly repayed after the fork.

Every day he got 4% interests.
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